Kathmandu, August 21
Finance Minister Dr Swarnim Wagle has said the government has no plans to introduce demonetisation in Nepal.
Wagle made the statement during a citizens, policy and leadership dialogue organised by the Rastriya Swatantra Party (RSP) at its party office in Baneshwor.
Participants in the discussion questioned the government on why it was not considering demonetisation as a measure to address financial irregularities and other challenges.
Responding to the questions, Wagle said the government did not consider demonetisation appropriate under the current circumstances.
“We heard some interesting questions about demonetisation. But at present, we do not think it would be appropriate for us. We have not considered demonetisation,” Wagle said.
He also said countries that had introduced demonetisation had not seen particularly successful outcomes from the measure.
The finance minister’s remarks come amid public discussions over whether Nepal should withdraw existing currency notes and replace them with new ones as part of efforts to control illicit money and improve financial transparency.
